Generali to support corporate and small-and-medium-sized enterprise (SMEs) customers with new integrated insurance platform, offering cyber risk management and incident response services
Generali Group is teaming with Accenture and Vodafone Business to help create a package of cyber insurance services that help customers quickly and effectively recognize, respond to and recover from cybersecurity threats and incidents.
The initiative, which includes cyber risk assessments, phishing simulations and learning programs, aims to help strengthen insurance customers’ ability to effectively defend against cyberattacks, recover quickly with minimal business disruption, and mitigate the impact both internally and to third parties.
“Technology, consumer needs and cyber risks are evolving rapidly, and the insurance industry must accelerate to embrace new digital opportunities and respond to increasing cybersecurity needs,” said Bruno Scaroni, chief transformation officer, Generali Group. “As part of Generali Group’s 2021 strategic plan, we have allocated over one billion euros to boost the group’s innovation and digital transformation to address these very needs. Building on the strategic collaboration with Accenture and Vodafone Business, Generali will be able to help its corporate and SME customers better understand their risk profile and define the best cyber insurance solutions they need.”
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As global cybersecurity provider, Accenture will offer Generali’s corporate and SME customers cyber risk assessments and provide timely responses to cyber incidents. It will also provide to Generali’s cyber insurance underwriters access to Accenture’s Security Academy platform, which offers learning programs, in multiple languages, on cyber threats and how to address them.
Vodafone Business will work with Accenture to deliver post-breach response services to SME customers, to help them recover from cyberattacks. This will range from initial incident categorization and response activities through to complex cybersecurity investigations.
In addition, Europ Assistance, which is part of Generali Group, will provide global coordination and serve as a contact point for both corporate and SME customers, offering 24/7 front line support to help clients identify cyber incidents and activate the right resolution services.
These solutions will be offered globally, starting in Europe at the beginning of 2022, allowing for customization depending on the local market and client preferences.
“Cyber risks and threats vary by industry and from one region to the next. Our approach is to bring together the right technology and talent to fit specific industries to help clients be more resilient,” said Paolo Dal Cin, Accenture Security lead for Europe. “This collaboration with Generali and Vodafone demonstrates our capability to develop global solutions that truly address local needs.”
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Andrzej Kawalec, head of Cybersecurity at Vodafone Business, said: “We are delighted to enter into this partnership with Generali and Accenture. By leveraging our existing relationship with Accenture, we can offer SMEs an unrivalled range of security services across the globe. Working together with Generali and embedding these services into their cyber insurance solutions portfolio offers customers the reassurance that they can respond to the rapidly evolving threat landscape.”
As part of Generali’s 2021 strategic plan, Generali and Accenture created a joint venture in December 2020 – the Group Operations Service Platform (GOSP) — leveraging cloud technologies and shared technology platforms to accelerate the Group’s innovation and digital strategy.
Manlio Lostuzzi, CEO, Generali Global Corporate & Commercial said: “As a global insurer, we want to be at the forefront of identifying and mitigating existing and emerging risk, offering innovative and relevant solutions to our clients. Today’s announcement further confirms our commitment to cyber resilience, an increasingly significant and tactical space for individuals, companies and organizations. The GC&C Cyber Insurance function represents a strategic competence center within the Generali Group, with the aim, among others, of improving client’s cyber security awareness and internal governance. Thanks to this collaboration with Accenture and Vodafone, our cyber insurance underwriters can further enhance their expertise and capabilities, while leveraging a broader customized offer, based on specific market and client needs.”
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